New for subscribers: Goldman downgrades Imax and Cinemark to sell, says theater stock rebound has gone too far. Check out CNBCPro today.
Theaters are coming off their best weekend since the pandemic hit the U.S., with the success "A Quiet Place Part II" helping the industry generate more. The move made $5.3 million at Imax alone, according to the theater company.
However, analyst Michael Ng downgraded Imax and Cinemark to sell from neutral, saying in a note to clients on Wednesday that the stocks appeared overvalued and investors should look for entertainment exposure in other sectors.
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